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Wednesday, April 14, 2010

Here is video of Charles Krauthammer saying that the United States is in danger of going the way of Greece - with all the economic turmoil they are experiencing.

"From an American Perspective, that's the future. We now have a GDP deficit this year of over 10%, which is wildly out of control - 10% of our Gross Domestic Product. If we stay on course, the most optimistic estimates out of the CBO are that we are going to have a National Debt - a total accumulated debt in 10 years of about 100%, 90% of our GDP, in which case we become Greece. And we get complete instability, either hyperinflation - interest rates out of control. It means that we have to start now with deficit reduction, because once we are on our way it's almost impossible to go in reverse . . . "

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